MARKETING

PHILOSOPHIES
AKA
MARKETING CONCEPTS
THERE ARE 5 MARKETING PHILOSOPHIES (OR
CONCEPTS) THAT BUSINESSES CAN APPLY WHEN
MARKETING THEIR PRODUCTS

1.THE PRODUCTION CONCEPT

2.THE PRODUCT CONCEPT
3.THE SELLING CONCEPT
4.THE MARKETING CONCEPT
5.THE SOCIETAL MARKETING CONCEPT
1. THE PRODUCTION PHILOSOPHY OR
CONCEPT

• THIS MEANS THAT THE BUSINESSES THAT UTILIZE IT

CREATE INEXPENSIVE AND WIDELY AVAILABLE
PRODUCTS, WHICH IS SOMETHING THEIR CUSTOMERS
WANT.
• EXAMPLE: - FORD
FORD AND HIS MODEL T REMAIN A GOOD
EXAMPLE OF THE MARKETING PHILOSOPHY
OF PRODUCTION AND BUSINESS KNOWING
WHAT THEIR CUSTOMERS NEED AND MAKING
IT AVAILABLE TO THEM BY MASS PRODUCING
IT AND MAKING IT WIDELY AVAILABLE. IN
1908, THE PRICE OF THE MODEL T WAS
AROUND $825, AND IN 1912 IT WAS AROUND
$575.

Model T with Bob Casey

2. THE PRODUCT MARKETING PHILOSOPHY OR
CONCEPT

• UNLIKE THE PRODUCTION MARKETING PHILOSOPHY WHICH IS FOCUSED ON

MASS-PRODUCING INEXPENSIVE PRODUCTS, THIS CONCEPT FAVORS HIGH-
QUALITY PRODUCTS AND HOLDS THE BELIEF THAT THE CONSUMERS
WON’T MIND THE HIGH PRICE BECAUSE OF THE QUALITY.
• THE BUSINESSES THAT UTILIZE THIS MARKETING PHILOSOPHY ASSUME
THAT THE CUSTOMERS PREFER PRODUCTS THAT ARE OF GREATER QUALITY,
SO THEY SPEND A LOT OF TIME WORKING ON THEIR PRODUCTS, IMPROVING
THEM AND COMING UP WITH NEW FEATURES.
EXAMPLE: APPLE
THEY’VE BEEN WORKING ON THEIR MODELS FOR YEARS AND COMING UP
WITH NEW FEATURES, WHICH CONVINCE THEIR CUSTOMERS TO STAY.
3. THE SELLING PHILOSOPHY OR CONCEPT

• THE BUSINESSES THAT UTILIZE THIS MARKETING PHILOSOPHY BELIEVE

THAT THEY CAN SELL ANY PRODUCT WITH THE USE OF ADVERTISING.
• WHILE THE PRODUCTION AND PRODUCT CONCEPTS ARE ALL ABOUT
PRODUCTION, THIS MARKETING PHILOSOPHY IS FOCUSED ON THE
PROMOTION OF PRODUCTS BECAUSE IT BELIEVES THAT THE CUSTOMERS
WON’T BUY THE PRODUCTS IF THEY’RE NOT BEING ADVERTISED TO THEM.
• DEAD STOCK PRESENTS PRODUCTS THAT A COMPANY IS NOT ABLE TO SELL
AND THAT HAS TO BE STORED, WHICH COSTS THE COMPANY MONEY. THE
WAY THEY GET RID OF IT IS BY USING THE SELLING MARKETING
PHILOSOPHY, PUTTING IT ON SALE AND ENCOURAGING PEOPLE TO BUY IT.
4. MARKETING PHILOSOPHY OR CONCEPT
• THIS CONCEPT IS ALL ABOUT LEARNING AS MUCH AS YOU CAN ABOUT YOUR
CUSTOMERS, AND ONLY THEN CREATING A PRODUCT THAT YOU KNOW THEY
NEED.
• OUT OF ALL THE MARKETING PHILOSOPHIES, THIS ONE IS PROBABLY
USED THE MOST IN MARKETING NOWADAYS.
• THIS IS PROBABLY BECAUSE IT IS HARD TO SELL ANYTHING NOWADAYS
WITHOUT KNOWING YOUR TARGET AUDIENCE REALLY WELL AND
APPEALING TO THEM. HENCE WHY THIS MARKETING PHILOSOPHY PLACES A
LOT OF IMPORTANCE ON THE CUSTOMER AND THEIR WANTS AND NEEDS.
• ARCH WILKINSON SHAW, A FAMOUS AMERICAN ENTREPRENEUR, SAID THAT
THE GOAL OF THIS MARKETING PHILOSOPHY IS TO SATISFY NEEDS RATHER
THAN TO SELL GOODS.
5. THE SOCIETAL MARKETING PHILOSOPHY OR
CONCEPT
• THIS MARKETING PHILOSOPHY IS ALL ABOUT KNOWING YOUR CUSTOMERS’
NEEDS, WHILE ALSO CARING ABOUT THE WELL-BEING OF THE SOCIETY AND
THE ENVIRONMENT.
• IT SEES BUSINESSES AS PARTS OF SOCIETY AND PROMOTES THEIR
PARTICIPATION IN THE SOLVING OF IMPORTANT ISSUES, LIKE POLLUTION,
WORLD HUNGER, AND ILLITERACY.
• WITH ALL THE POLLUTION ISSUES THAT WE’VE HAD IN THE PAST FEW
MONTHS AND CLIMATE CHANGE BEING IN FULL SWING, IT IS IMPORTANT
THAT BUSINESSES SHOW THAT THEY CARE ABOUT THESE ISSUES, BECAUSE
IF THEY SEEM LIKE THEY DON’T CARE, THEY MIGHT LOSE A LOT OF
CUSTOMERS.